This is a very low mileage 1997 Ferrari 355 GTS that we purchased for ourselves from an insurance facility in Atlanta Georgia.  It had a clean title and the price we paid was $18,180  which is approximately 1/3 of its Blue Book  value.  We did not make any repairs to the car, we simply cleaned it up and listed it in as is condition on Ebay where it sold in 2 days for $32,500.  Our net profit was $13,122. 

We are frequently asked, "why doesn't the insurance company just pay to have these vehicles repaired for their customers?" They often do, but in many instances an insurance company will pay the vehicle owner a settlement and then simply sell the car at one of the nationwide insurance salvage facilities.  Insurance companies are in business to make money and they often decided it's more cost effective to settle the claim and just sell the vehicle in as is condition rather than repair it.

When this 355 incurred its damage, the front bumpers were 10 months on back order from Ferrari in Italy,  The insurance company paid the Ferrari owner a cash settlement to avoid an indefinite repair period and the costs of a providing a rental car and storage fees paid to the body shop that would have accrued while the vehicle was sitting idle waiting for parts to arrive. In addition there could have been further undetected damages and expenses not revealed until the repair work was underway.